This module allows you to analyze existing cross correlation between BitBay Ethereum USD and Bitfinex Ethereum USD. You can compare the effects of market volatilities on BitBay Ethereum and Bitfinex Ethereum and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in BitBay Ethereum with a short position of Bitfinex Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of BitBay Ethereum and Bitfinex Ethereum.

Ethereum on BitBay in USD

Bitfinex

Ethereum on Bitfinex in USD

Pair Volatility

Assuming 30 trading days horizon, BitBay Ethereum USD is expected to under-perform the Bitfinex Ethereum. In addition to that, BitBay Ethereum is 1.17 times more volatile than Bitfinex Ethereum USD. It trades about -0.25 of its total potential returns per unit of risk. Bitfinex Ethereum USD is currently generating about -0.21 per unit of volatility. If you would invest 20,446 in Bitfinex Ethereum USD on November 19, 2018 and sell it today you would lose (9,757) from holding Bitfinex Ethereum USD or give up 47.72% of portfolio value over 30 days.

Pair Corralation between BitBay Ethereum and Bitfinex Ethereum

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding BitBay Ethereum USD and Bitfinex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Ethereum USD and BitBay Ethereum is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on BitBay Ethereum USD are associated (or correlated) with Bitfinex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Ethereum USD has no effect on the direction of BitBay Ethereum i.e. BitBay Ethereum and Bitfinex Ethereum go up and down completely randomly.

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